Title: Economic and financial themes in Australian aged care: regulatory restraint and its consequences

Authors: Warren P. Hogan

Addresses: School of Finance and Economics, University of Technology Sydney, P.O. Box 123, Broadway, NSW 2007, Australia

Abstract: This contribution reflects the results of work for a review of aged care policies and services in Australia. Initial material covers the policy arrangements in place prior to the inauguration of the Aged Care Review in September 2002. The main feature of the contribution is a survey of the economic and financial performance of aged care entities not hitherto attempted. Most attention is directed to labour costs in relation to total costs and earnings before interest and taxes. Cross-section analyses are based on institutional differences between providers of services. Locational differences are also examined. The results show great disparities between providers of aged care services. The regulatory restraints imposed through a centrally-planned administrative system are comprehensive in their impact and for their contradictions. There are implications for development of new approaches to policy.

Keywords: residential aged care; centrally-planned policies; regulations; restraint; earnings; labour costs; policy rigidities; policy arrangements; competition; efficiency; care of the elderly; Australia; care services; care policy.

DOI: 10.1504/IJBHR.2008.018448

International Journal of Behavioural and Healthcare Research, 2008 Vol.1 No.1, pp.1 - 21

Available online: 24 May 2008

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